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HRM 531 Week 2 Quiz

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1. Which of the following laws established the first national minimum wage?

Fair Labor Standards Act (1938)

Davis–Bacon Act (1931)

McNamara–O'Hara Service Contract Act (1965)

Walsh–Healey Act (1936)

2. The gatekeeper in a managed care health insurance plan is the

the employee

primary care physician

insurance cost monitor

the HR representative

3. The type of private pension plan in which an employer promises to pay a retiree a stated pension is a

defined-contribution plan

defined-benefit plan

defined-performance plan

defined-retirement plan

4. Which of the following is NOT another name for gain sharing?

Control-based compensation

Improshare

The Scanlon plan

The Rucker plan

5. At a comprehensive point of view, a(n) _____ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions.

employee stock ownership plan

merit-pay method

competency-based pay system

organizational reward system

6. One downside of team incentives is that

managers do not feel that incentives motivate employees equally

it does nothing to educate employees about the factors of business success and capitalism

most employees do not feel that their jobs have a direct impact on profits

it does not provide retirement income to employees

7. ______________cover 128 million workers in the United States.

Workers’ compensation programs

Defined-benefit programs

Defined-contribution programs

Point-of-service programs

8. Open pay systems tend to work best when

business strategy matches the organizational development stage

there is a union to negotiate pay increases

job performance can be measured objectively

effort and performance are related closely over a long time span

9. ________________ provides a supplemental, one-time payment when death is accidental, and it provides a range of benefits when employees become disabled—that is, when they cannot perform the main functions of their occupations.

Medical underwriting

A point-of-service plan

A preferred provider payment

Disability coverage

10. In the United States, salary discussions among employees are protected under

Salary.com

the Equal Pay Act (1963)

the Fair Labor Standards Act (1938)

the National Labor Relations Act (1935)

11. Evidence indicates that the perceived value of benefits rises when employers introduce

flexible supervisors

more jobs

choice through a flexible benefits package

higher salaries

12. __________ is not legally required, and, because of unemployment compensation, many firms do not offer it.

Retirement pay

Severance pay

Short-term disability

Cost shifting

13. Gain sharing plans consist of all EXCEPT which of the following elements:

An involvement system

A financial bonus

An internal equity

A philosophy of cooperation

14. Which act covers private-sector employees over age 21 enrolled in noncontributory (100% employer-paid) retirement plans that have 1-year service?

COBRA (1985)

ADA (1990)

ERISA (1974)

HIPAA (1996)

15. The Sarbanes–Oxley Act of 2002 requires that

executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company

the Securities and Exchange Commission meet annually to discuss bonuses

companies can seek repayment for incentives paid that were later found to be materially inaccurate

the minimum wage change each year

16. One strategic issue that should influence the design of benefits is an organization’s

value to employees

plan to pay panel

shareholder’s form

stage of development

17.__________ bridge the gap between organizational objectives and individual expectations and aspirations.

Corporate compensation systems

Financial systems

Rewards

Employment practices

18. In labor economics, __________________ theory holds that unless an employee can produce a value equal to the value received in wages, it will not be worthwhile to hire that worker.

the willingness to reduce the size of the workforce

the marginal productivity

the percent of company offerings

the concern with pay for position

19. Narrowing pay ratios between jobs or pay grades in a firm’s pay structure is

pay inequality

pay secrecy

pay security

pay compression

20. Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow a norm of fairness and to use it as a basis for distributing rewards.